Payor clause meaning
SpletAn attorney fee clause breaks the default fee rule and identifies which party must pay the other party’s (or parties’) lawyers’ fees and other costs and expenses. When two or more parties enter into a contract, they may designate, within the legal document, who pays for legal costs, like attorneys’ fees, if a lawsuit is brought. SpletThe meaning of PAYOR is a person who pays; specifically : the person by whom a note or bill has been or should be paid. a person who pays; specifically : the person by whom a note or bill has been or should be paid…
Payor clause meaning
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Splet09. sep. 2024 · What is a payor? In a financial transaction, the person paying money in exchange for an item, product, or service is known as the payor. Payors may also be called payers, and they are obligated... Spletnoun pay· er ˈpā-ər variants or less commonly payor ˈpā-ər (ˌ)pā-ˈȯr : one that pays especially : the person by whom a bill or note has been or should be paid He is a prompt bill payer. Example Sentences Recent Examples on the Web Democrats, polls have found, tend to support single payer more frequently than Republicans.
SpletDefinition of "Payor clause". Provision found in juvenile insurance that waives the premiums due on the insured child's policy provided that the payor of the premiums … SpletPayor Benefit Rider A rider may be added to the policy of a juvenile stating that if the payor (the one paying the premium) dies or becomes totally disabled prior to the juvenile s …
Spletthe one used in the report without materially changing the meaning. In some cases the listed explanation elaborates or clarifies the definition further than that contained in the relevant report. CPSS Glossary - March 2003 7 Glossary … Spletpayor noun [ C ] law specialized uk / ˈpeɪ.ə r/ us / ˈpeɪ.ɚ / a person who pays something: Payments are tax free to the recipient and are not tax deductible by the payor. Compare …
Splet13. mar. 2024 · If there is a designated co-payor, that individual can continue to pay the premiums or if the owner was not also the payor, they can then designate a new payor or …
SpletPre-Authorized debits (PADs) are a powerful tool for businesses. They are sometimes called direct debit, pre-authorized chequing (PAC), pre-authorized withdrawals or pre … birthday gifts for 83 year old dadSpletnoun pay· er ˈpā-ər variants or less commonly payor ˈpā-ər (ˌ)pā-ˈȯr : one that pays especially : the person by whom a bill or note has been or should be paid He is a prompt … birthday gifts for 8 year old man texasSplet"payor" (1) Values may be entries in a locally-defined table of payor codes. (2) As of the date of publication of the judgment, the applicant shall be entitled to payment by the payor. (3) … birthday gifts for 8 year oldsSplet27. maj 2024 · The terms payor and payer are both nouns that refer to someone who pays a bill or is the responsible party for some type of financial obligation. While the words have the same meaning, payor is a less common variant. Though it’s acceptable to use the two versions interchangeably, most individuals and entities use the more common payer … birthday gifts for 8 year olds boySplet04. mar. 2024 · The payor: This is the person who promises to repay the debt. The payee: This is the lender, the person or entity that's lending the money. The date: This is the date the promise to repay is effective. The amount or principal: This identifies the face amount of the money borrowed by the payor. The interest rate: The interest rate being charged is … birthday gifts for 91 year old womanSpletThe terms payee and payer (payor) can refer to an individual or an entity: 1. Individual person (e.g., customer, custodian) 2. Public entity (e.g., government body) 3. Private entity (e.g., business, trust, trade organization, non-profit) Interestingly, there may be multiple payees and payers (payors) within one transaction. birthday gifts for 90 year old momSplet21. okt. 2024 · Policy cancellation. The loss payee section of your policy is more than a direct link between your insurance company and the lender. Since you are not the sole owner of the collateral, claim checks will be made out to both you and the lender or directly to a repair shop. 2. In the case of a total loss, the lender will be paid first. dan murphy bulleen phone number